Franklin Resources Inc. Lowers Stock Position in Terreno Realty Co. (NYSE:TRNO)

Franklin Resources Inc. reduced its stake in Terreno Realty Co. (NYSE:TRNO) by 0.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 609,379 shares of the real estate investment trust’s stock after selling 676 shares during the quarter. Franklin Resources Inc. owned 0.61% of Terreno Realty worth $36,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TRNO. Alliancebernstein L.P. lifted its stake in Terreno Realty by 2.4% during the 4th quarter. Alliancebernstein L.P. now owns 138,847 shares of the real estate investment trust’s stock worth $8,211,000 after acquiring an additional 3,237 shares in the last quarter. DnB Asset Management AS acquired a new stake in shares of Terreno Realty during the fourth quarter worth about $230,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Terreno Realty by 8.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 131,090 shares of the real estate investment trust’s stock valued at $7,753,000 after purchasing an additional 10,640 shares during the period. Norges Bank purchased a new position in shares of Terreno Realty in the fourth quarter valued at approximately $58,818,000. Finally, Easterly Investment Partners LLC grew its holdings in shares of Terreno Realty by 168.4% in the fourth quarter. Easterly Investment Partners LLC now owns 106,855 shares of the real estate investment trust’s stock valued at $6,319,000 after purchasing an additional 67,049 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TRNO shares. The Goldman Sachs Group upgraded shares of Terreno Realty from a “neutral” rating to a “buy” rating and increased their target price for the stock from $65.00 to $77.00 in a report on Friday, February 21st. Deutsche Bank Aktiengesellschaft began coverage on Terreno Realty in a research note on Tuesday, January 14th. They issued a “hold” rating and a $60.00 price objective on the stock. BMO Capital Markets boosted their target price on Terreno Realty from $71.00 to $73.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 12th. Barclays reduced their price target on Terreno Realty from $60.00 to $57.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Finally, Scotiabank boosted their price objective on Terreno Realty from $64.00 to $68.00 and gave the stock a “sector perform” rating in a research report on Friday, February 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Terreno Realty has a consensus rating of “Hold” and a consensus target price of $69.09.

Terreno Realty Stock Performance

Shares of TRNO opened at $55.86 on Friday. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of 29.09, a price-to-earnings-growth ratio of 2.82 and a beta of 0.93. Terreno Realty Co. has a 52-week low of $53.78 and a 52-week high of $71.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.24. The stock has a 50 day moving average price of $65.80 and a 200 day moving average price of $63.35.

Terreno Realty (NYSE:TRNO) last issued its earnings results on Wednesday, February 5th. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.24. Terreno Realty had a net margin of 48.18% and a return on equity of 5.20%. Research analysts predict that Terreno Realty Co. will post 2.64 EPS for the current fiscal year.

Terreno Realty Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Thursday, March 27th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend was Thursday, March 27th. Terreno Realty’s dividend payout ratio (DPR) is currently 102.08%.

About Terreno Realty

Terreno Realty Corporation (Terreno, and together with its subsidiaries, the Company) acquires, owns and operates industrial real estate in six major coastal U.S. markets: Los Angeles, Northern New Jersey/New York City, San Francisco Bay Area, Seattle, Miami, and Washington, DC All square feet, acres, occupancy and number of properties disclosed in these notes to the consolidated financial statements are unaudited.